5 things to know about Obama’s budget address

President Barack Obama made his first public comments since winning re-election Tuesday, and he talked about the fiscal cliff. Here are five things to know about his speech:

GateHouse News Service

President Barack Obama made his first public comments since winning re-election Tuesday, and he talked about the fiscal cliff. Here are five things to know about his speech:
1. Obama again pushed the bill that the Democrat-controlled Senate has already passed, one that keeps tax cuts in place for middle-income families but raises taxes for the wealthy. He said, "This was a central question during the election. The majority of Americans agree with my approach."
2. Obama wants taxes for the wealthy raised, while Republicans are calling for cuts to “entitlement programs” (Medicare, Medicaid and food stamps). Obama’s tax increase would affect those who earn more than $250,000 a year.
3. Obama said he’s willing to work with Congress (i.e., the House) on how best to avoid the fiscal cliff facing the economy. "I'm open to compromise," he said.
4. Obama said he has invited Republican and Democrat congressional leaders to the White House next week for talks on the fiscal cliff.
5. Obama and House Speaker John Boehner are the leaders on the budget talks. In the past, the two haven’t seen eye to eye on much, if anything, but both have made statements that suggest they’ll work together.